China Steel Corporation, the largest carbon steelmaker in Taiwan, is going to release its list prices for September 2012 shipment on July 20th 2012.

As Chinese steel giant Baosteel's price cut for August 2012 was much higher than expected, market participants forecasted that CSC would cut its September 2012 list prices by TWD 1,000 to TWD 1,200 per tonne, higher than the previous forecast of TWD 600 to TWD 800 per tonne.

It's known that Baosteel announced to reduce its August 2012 list prices by 4.6% to 5.6 % last week, due to weak market condition.

Baosteel decided to cut the August 2012 list prices of hot rolled, pickling and cold rolled steel by CNY 200 per tonne, CNY 100 per tonne and CNY 260 per tonne respectively.

Also, the firm reduced the August 2012 list prices of hot dipped galvanized steel and non oriented silicon steel by CNY 100 per tonne and CNY 260 to CNY 500 per tonne respectively.

Affected by Baosteel's sharp price cut for August 2012, it's estimated that CSC might reduce its September 2012 list prices by TWD 1,000 to TWD 1,200 per tonne to meet the customer's requirement.

Source - www.yieh.com)

(www.steelguru.com)